The Denmark-based company launched a lab-created diamond collection in the UK this week and expected a global launch in 2022.

It said the stones in its Pandora Brilliance collection were physically, chemically and optically identical to their mined counterparts, and produced to the same measures of quality and consistency known as the 4Cs (colour, clarity, cut and carat).

"Diamonds are not only forever, but for everyone," CEO Alexander Lacik said.

"They are as much a symbol of innovation and progress as they are of enduring beauty and stand as a testament to our ongoing and ambitious sustainability agenda."

Pandora makes more jewellery pieces than any other company in the world and had used mined diamonds in about 50,000 pieces last year out of a total of roughly 85 million pieces of jewellery, Bloomberg reported.

Pandora said the lab-created diamonds in the collection had been grown with more than 60% renewable energy on average, and greenhouse gas emissions from non-renewable energy were being offset through the CarbonNeutral certification.

"When Pandora launches the collection globally next year, the diamonds are expected to be made using 100% renewable energy," it said.

The company was also using mainly recycled silver and gold in its jewellery, which generated sales of DKK19 billion (US$3 billion) in 2020.

Diamond miner De Beers had announced its entry into the lab-made diamond jewellery sector in 2018, to "provide a new, complementary commercial opportunity" to its core business. 

Natural diamond sales slumped in 2020 due to COVID-19, production interruptions and sluggish demand. 

The industry has also been tainted by allegations of human rights abuses.